National Oilwell Varco, Inc. designs, constructs, manufactures, and sells systems, components, and products used in oil and gas drilling and production; provides oilfield services and supplies; and distributes products, and provides supply chain integration services to the upstream oil and gas industry worldwide. National Oilwell Varco, Inc. operates through three business segments: Rig Technology, Petroleum Services & Supplies, and Distribution Services. The Rig Technology segment offers offshore and onshore drilling rigs; derricks; pipe lifting, racking, rotating, and assembly systems; rig instrumentation systems; coiled tubing equipment and pressure pumping units; well workover rigs; wireline winches; and cranes. The Petroleum Services & Supplies segment manufactures, rents, and sells consumable goods for use in drilling operations, including drill pipe, wired drill pipe, transfer pumps, solids control systems, drilling motors, drill bits, reamers and other down hole tools, and mud pump consumables. National Oilwell Varco, Inc. primarily serves drilling contractors, shipyards and other rig fabricators, well servicing companies, pressure pumping companies, national oil companies, independent oil and gas companies, supply stores, and pipe-running service providers. National Oilwell Varco, Inc. has joint venture agreements with Schlumberger, Ltd. and Austrian based Voestalpine Group. National Oilwell Varco, Inc. was founded in 1862 and is based in Houston, Texas.